Mr Duong said the company have signed a series of trade deals on exporting 1,150 buses to markets such as Thailand, Taiwan (China), the Philippines, and Cambodia. For 2018 Thaco have arranged to ship 550 vehicles to overseas markets.
Once the new factory is officially put into operation bus exports will grow to meet regional demand. The factory, equipped with a modern production line, was built on an area of 17ha at Chu Lai Open Economic Zone in Quang Nam Province at a cost of VND7,000 billion and boasts a design capacity of 20,000 vehicles per year (8,000 coaches and 12,000 mini-buses). This is the first bus plant in Vietnam to use locally produced parts for 80% of its components.
An R&D centre was set up at the plant to facilitate the design of a wide range of vehicles and raise the rate of locally produced components to 60%.
At present, with sales of 14,000 units, the company holds 54% of bus market shares.